Lockheed Martin (LMT) closed the most recent trading day at $461.96, moving -0.93% from the previous trading session. This change lagged the S&P 500's 0.74% gain on the day. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the aerospace and defense company had gained 3.08% over the past month, outpacing the Aerospace sector's gain of 1.82% and lagging the S&P 500's gain of 3.34% in that time.
Lockheed Martin will be looking to display strength as it nears its next earnings release, which is expected to be July 18, 2023. On that day, Lockheed Martin is projected to report earnings of $6.43 per share, which would represent year-over-year growth of 223.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.86 billion, up 2.65% from the year-ago period.
LMT's full-year Zacks Consensus Estimates are calling for earnings of $27.09 per share and revenue of $65.77 billion. These results would represent year-over-year changes of -0.51% and -0.32%, respectively.
Investors might also notice recent changes to analyst estimates for Lockheed Martin. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. Lockheed Martin is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Lockheed Martin has a Forward P/E ratio of 17.21 right now. This valuation marks a premium compared to its industry's average Forward P/E of 16.63.
It is also worth noting that LMT currently has a PEG ratio of 2.8. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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